And you'll have new cracks in unexpected places, old cracks that will not close, but instead enlarge.

All this involved him adding alumicon adapters to the outlets and switches.

Instead of using a static dollar amount I set aside 10% of profits into a sinking fund to cover expected (new roofs are the big ones) and unexpected expenses.

On the other hand, if they do something significant that screws up major systems, you're going to have a sudden and unexpected increase in your renovation budget.Good luck,Troy

I informed my tenants that I would be unable to renew the lease ending in June but they are motivated to stay and unexpectedly made a good offer to buy the house. 

You will have a higher cash flow and be able to handle any unexpected repair costs or capital expenditures.Keep in mind that you could always put leverage on the property after the fact.

One option is to run the main unit to a more comfortable level and let the others supplement their space with a heater connected to a kill-a-watt outlet meter. 

A person who loses their home to foreclosure in that type of market either experienced some severe, severe unexpected hardships, or they are not particularly competent--in which case, do you want to have your money dependent on their actions in any way?

The issue is that the electric outlets are too far away and I’d have to run a pretty long extension cord.

We've learned some lessons about HOA dues, taxes, insurance, having enough money for unexpected expenses like a plumbing issue.